Short Interest in Sterling Bancorp (NASDAQ:SBT) Expands By 20.9%

by · The Cerbat Gem

Sterling Bancorp (NASDAQ:SBT – Get Free Report) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totalling 328,600 shares, a growth of 20.9% from the September 30th total of 271,800 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average trading volume of 42,900 shares, the days-to-cover ratio is currently 7.7 days.

Sterling Bancorp Stock Down 1.5 %

Shares of SBT traded down $0.07 during mid-day trading on Wednesday, reaching $4.71. 7,767 shares of the company’s stock were exchanged, compared to its average volume of 37,850. The company has a 50-day simple moving average of $5.01 and a two-hundred day simple moving average of $5.12. The company has a market cap of $245.04 million, a price-to-earnings ratio of 29.75 and a beta of 0.52. Sterling Bancorp has a 52-week low of $4.40 and a 52-week high of $6.01.

Institutional Trading of Sterling Bancorp

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Sterling Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,461,987 shares of the company’s stock worth $7,544,000 after acquiring an additional 8,077 shares during the period. BNP Paribas Financial Markets grew its position in shares of Sterling Bancorp by 883.5% in the first quarter. BNP Paribas Financial Markets now owns 74,696 shares of the company’s stock valued at $385,000 after purchasing an additional 67,101 shares during the period. Bank of New York Mellon Corp increased its stake in Sterling Bancorp by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 89,085 shares of the company’s stock valued at $466,000 after purchasing an additional 2,357 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Sterling Bancorp by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 895,976 shares of the company’s stock worth $4,685,000 after buying an additional 66,148 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Sterling Bancorp by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 229,474 shares of the company’s stock worth $1,200,000 after buying an additional 11,000 shares during the last quarter. Institutional investors and hedge funds own 26.37% of the company’s stock.

About Sterling Bancorp

(Get Free Report)

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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